DeFi & Ethereum News

2023-02-06 05:50:05 a16z “Dominates” The Vote To Install Uniswap On BNB Chain With 15 Million UNIs

A Uniswap community poll to validate and select a cross-chain solution for this exchange on BNB Chain initially favored Wormhole. However, the final outcome will be quite uncertain and stated that a16z uses 15 million UNIs to “dominate” the vote.

Because a16z was unable to gather enough votes to support LayerZero at the Temperature Check stage, he made a fresh move in the official Uniswap voting. According to statistics from the on-chain voting platform Tally, a16z voted “opposed” to the request to implement Uniswap V3 on BNB Chain. This quantity of votes accounts for 15 million UNI tokens (the most votes currently cast), and the balance swiftly becomes skewed. Invest in the project in line with the decentralized governance criteria of Uniswap.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-05 06:34:02 FTM Soars 35% on the Week as Fantom Preps Stablecoin Relaunch

Over the past week, FTM has soared roughly 35%. Chatter around a new stablecoin for the project alongside a host of new updates have likely been the key motors behind the latest move. These developments also suggest that DeFi developer Andre Cronje’s return to crypto is much more than just a phase.

After saying goodbye to the game (again) last March, then returning in November, it now looks like the mind behind Yearn Finance and Keep3r (and numerous other high-profile projects) is rolling up his sleeves and getting back to work. He’s long been associated with the speedy layer-1 blockchain called Fantom, wearing the title of co-founder and architect of the Fantom Foundation, and now it appears he’s re-building the network’s native stablecoin, fUSD.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-04 06:01:02 Australia Strengthens Crypto Watchdogs In “Multi-Stage” Scam-Fighting Strategy

The Australian Securities & Investments Commission’s (ASIC) digital assets unit will grow in size, and “upping enforcement measures” will be one of the major improvements. As part of a “multi-stage approach” to cracking down on cryptocurrency and ensuring proper risk disclosures from crypto businesses.

The new regulations are meant to safeguard consumers interacting with cryptocurrencies, according to a joint statement released on February 2 by Australian Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones. The multi-stage strategy, according to the treasurers, would include three components: improved enforcement, improved consumer protection, and the creation of a framework for token mapping reform. The Australian Securities & Investments Commission’s (ASIC) digital assets unit will grow in size.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-03 06:19:02 Actual Owner Of Bithumb Arrested For Embezzlement Of Company Assets

On February 2, the Minister in charge of the arrest warrant of the Seoul Southern District Court, South Korea, arrested Kang Jong-hyun, who is believed to be the actual owner of Bithumb, the cryptocurrency exchange of Bithumb, citing suspicions of corruption.

The arrest warrant for another Mr. Jo, who was in charge of accounting-related affairs under Mr. Kang’s direction, has been rescinded. He is said to have confessed to all orders. Previously, on January 25, the Financial Investigation Division 2 of the Seoul Southern District Prosecutor’s Office requested arrest warrants for 3 people, including Kang, on charges of breach of trust and embezzlement under the Severe Penalties Act for Specific Economic Crimes and fraudulent transactions.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-02 06:09:02 MicroStrategy expected to report profit despite down quarter for crypto: Preview

MicroStrategy reports fourth quarter results Thursday with the company expected to turn a profit after several down quarters even as revenue comes in slightly lower than a year earlier. The software firm, better known in recent years for its bet on bitcoin, is expected to report revenue.

Net income is estimated at $10.7 million, which would be the first time MicroStrategy has posted a profit since the fourth quarter of 2020. MicroStrategy, which ended the third quarter with 130,000 bitcoin, sold the cryptocurrency for the first time last month, liquidating 704 bitcoin worth $11.8 million at the time of sale. But it turned around and bought 810 BTC two days later, adding to the 2,395 BTC acquired between Nov. 1 and Dec. 24. FTX collapse and bitcoin drop to around $17,000 compared to its November 2021 high of $69,000.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-01 06:32:02 Blockchain security firm Sec3 raises $10 million in seed funding

Sec3, a blockchain security firm that audits smart contracts among other services, raised $10 million in a seed funding round. Several angel investors, including Santiago Santos, a former ParaFi Capital partner, and Anatoly Yakovenko, co-founder of Solana, also joined the round.

As part of the deal, Multicoin Capital holds a board observer seat, Chris Wang, co-founder and president of Sec3, said in an interview. Sec3 began raising for the seed round in February last year and closed it in April but only decided to announce now as the firm was occupied building products, Wang said. Sec3, formerly Soteria, is also publicly launching its products today. Until now, the firm only served private clients. Sec3 offers four products —Launch Audits, X-Ray, CircuitBreaker and WatchTower — that work across project stages.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-31 06:53:02 Floki Inu DAO Approves Plan To Burn Tokens Worth More Than $100 Million

A recent governance proposal that aimed to burn 4.2 trillion FLOKI tokens on a cross-chain bridge and lower transactional tax was approved by the Floki Inu community. Floki subsequently moved to the quicker and less expensive BNB Chain in 2021 in response to community requests.

According to developers, the proposal was approved by a 99.97% majority in support of burning the bridge tokens and 0.03% against it. The 4.2 trillion tokens will be permanently burned at 8 PM UTC on February 9, 2023, and the Floki Inu transaction tax will be reduced to 0.3% as at 8 PM UTC on February 3. With a 10 trillion token supply initially on Ethereum, Floki Inu subsequently moved to the quicker and less expensive BNB Chain in 2021 in response to community requests. FLOKI from Ethereum to BNB Chain and vice versa, this required a cross-chain bridge.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-30 06:45:02 Secret Foundation And Secret Labs Engage In Open Conflict

The Secret Foundation’s and its founder Tor Bair’s previous business practices have been questioned by Guy Zyskind, the founder and CEO of Secret Labs. Both parties endorse the Secret Network, a blockchain in the Cosmos ecosystem that focuses on anonymity.

Zyskind made accusations regarding the foundation’s lack of openness, the alleged improper administration of an OTC transaction that resulted in a loss of around $250,000, and a probable open loan to the defunct trading company Alameda. The issues were brought up in a post on the governance forum for the Secret Network. Zyskind demanded that the foundation be reorganized as a non-profit, that all of its current money be returned to the community, and that it thereafter be obliged to submit grant applications in order to carry out activities that support the ecosystem.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-29 06:32:02 Crypto tax unicorn CoinTracker cuts 20% of staff citing industry gloom, over-hiring

Crypto tax unicorn CoinTracker laid off about a fifth of its staff due to market conditions. A total of 19 employees were let go from the San Francisco-headquartered crypto tax company as its leadership cited headwinds from crypto winter alongside bringing on too many people.

A company spokesperson confirmed the layoffs in an email and said that 15 of the 19 who were let go were in the customer support team. CoinTracker offered affected employees 12 weeks of pay, three months healthcare coverage for U.S.-based employees and a removal of the equity cliff meaning that anyone departing can remain a shareholder. They'll also be allowed to keep their laptops. "While we tried our best to get this just right, in this case it is now clear to me that we over-hired," wrote Armstrong.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-28 06:12:02 Cardano-based exchanges confirm Djed listings ahead of stablecoin launch

Decentralized exchanges MinSwap and MuesliSwap, both based on the Cardano blockchain, have announced their support for the upcoming Djed stablecoin and its accompanying governance token, Shen. The stablecoin, which is planned to go live on the Cardano network.

MinSwap, the largest decentralized exchange on Cardano, revealed that Djed and Shen will be paired against the ADA cryptocurrency in a liquidity pool. With over $30 million in liquid tokens locked on the exchange, this presents a significant opportunity for Djed to gain traction in the Cardano ecosystem. MuesliSwap, another crypto exchange on Cardano, with roughly $6.6 million in value locked, also announced its support for the upcoming stablecoin.

Source

https://t.me/DeFi_Ethereum Open / Comment